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Marketing and Sales Management Service Marketing

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Added on  2021-04-13

Marketing and Sales Management Service Marketing

   Added on 2021-04-13

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Wolaita Sodo UniversityDepartment of Marketing and Sales ManagementService Marketing Assignment No.NameID123456789101112Submitted to: Ins. Temmam April, 20211
Marketing and Sales Management Service Marketing_1
ContentsIntroduction...........................................................................................................................................31.Why is it challenging to design and develop services?..................................................................32.Identify where ideas for service innovation might come from......................................................53.What are the risks of attempting to describe services in words alone?........................................64.The Criticality of Service Innovation for a Firms and Country........................................................7Bibliography.........................................................................................................................................102
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Introduction This work is a presentation of discussions on issues in relation to service innovation anddevelopment. Namely, in a way of question and answer, it has addressed concerns such as thechallenges of designing and developing services, sources of ideas for service innovation, therisks associated with attempts to describe service in words lonely, and the criticality ofservice innovation for firms and countries.1.Why is it challenging to design and develop services? New service development is a relatively new area of research when compared to the newproduct development. This has put a challenge on managing new service development. Theneed to have a well structured service development model is a necessary factor in order torealize a launch of successful service. However, some studies show that majority of servicefirms have no or use an informal process to develop service products.Generally, the major challenges associated with designing and developing new servicscan besummarized as follows:Failure to protect services hinders investment: The framework conditions fordeveloping successful and inimitable services are more challenging than for productdevelopment. Until now, services have been protected by patent law only to a limitedextent.This disadvantage frequently hinders investments in innovative services.Management lacks faith in generating sustainable or difficult-to-imitate competitiveadvantages with service innovation. There is a lack of clear organizational anchoring: The responsibilities fordeveloping new services are frequently unclear. Does service innovation start inmarketing or in R&D? Of course, not all areas of the enterprise are really suitable forpromoting service innovation. Many enterprises lack independent innovationdepartments, which specialize in services. Therefore, New Service Development program are often ad hoc, not formalized:This is most importantly because service entrepreneurs do not recognize opportunitiesfor innovation. When service entrepreneurs do admit the value of innovation, theywill be less motivated to follow a formalized approach. Many firms are, thus,reluctant to develop a new service and they even resort to imitating what is alreadycreated by competitors. They do this because the sunk cost is considerably law as3
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